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tv   After the Bell  FOX Business  March 2, 2015 4:00pm-5:01pm EST

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leading the game. >> they are doing great for the year. [closing bell ringing]. liz: don't count out american business and american consumer. the bells ring on wall street. is it a triple record? the number to beat for the s&p is 2115. we're at 2116. david: look at confetti. liz: the number to beat at leastfy thousand record is -- david: not historical record for nasdaq is 40 short of that. all the other indices are in record territory. russell 2000 is also in record territory, correct me if i'm wrong on that, rousers. looks like we are having one heck after monday. liz: here are the numbers. dow jones industrials up 152. truly nasdaq composite beats it on up a nearly full percenting. "after the bell" starts right now. don't move. david: we've got it all covered, breaking down today's action,
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jamie cox, from harris financial, who says there is one sector positioned post the biggest gain in years. he will tell us which sector it is, matt genn from royal oak financial, telling us even more highs are on the way. mark sebastian in pits of cme. he made it back safely to chicago i'm happy to say. mark, let's look at the vix. its e it is close to 12 handle. almost below 13. is it time to hedge that a little? >> unwith things -- david: it does have a 12 handle. came below 13, closing at 12.93 go ahead. >> 12.93. to most outside observers that seems relatively low, when you look at market movement, russell has least amount of movement in the last 10 years. s&p, right near its record low in terms of movement over last 10 days, matching what it was doing?
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june. we're seeing a market crawling at this incredible snails pace. so why is the vix at 129.93? tell you why. there is still buying pressure on puts. 12.93. tells us big money managers are still buying downside protection. they're willing to give up a little bit upside to make sure they don't catch a lot of downside. money managers doing it. retail traders doing it. when smart money buying puts, they like upside but a little scared. david: gotcha. >> that is way i look at market right now. liz: jamie, i call you the smart money. you have been bullish when others weren't. it was absolute correct call. what are you now. is there a tinge of fear what you're doing? >> well, you got to look beyond the u.s. we see all the record with the nasdaq, s&p and dow jones industrial average, but that is not really the story. the story is overseas. we haven't seen any type of performance like that in europe or in asia.
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with the easy money overseas, that is were the markets do best. liz: can i just say, asia and certain asian markets hit multiyear highs last week. >> yeah. you're seeing a lot of people come in to realize the emerging markets are doing well. remember europe is that weak spot. it has been a couple of years. look at the dacs, up double digits already. that is where money is to be made this year. even though seeing records set all over the place in the united states, this is not the best market. david: you mentioned asia. we have one top asian -- come back from china. he will be with us this hour. don't want to miss that matt, you think it will be strong spring, even times leading up to it. that means new records. couldn't however the cold winter we've had be a drag on growth and a drag on profits as we saw last year? >> david, i don't think so. i think we have perfect trifecta going. low oil has been a godsend for
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consumers and -- david: hold on, matt. that has not panned out in retail sales. >> no. i think it has, well you're going to see it pan out, low oil increased wages we're about to experience, in the spring being around the corner i think is setting up for the perfect trifecta. if we get confidence this we'll do well. the song remains the same. we're fully invested in the stock market. we're invested right here in the united states. i think consumer growth and consumer driven products here in the states is what will really catapult this market forward. david: hold on a second. no effect from the winter at all, is that what you're saying despite the record low temperatures we've had in the east? >> i don't think so. it hasn't been as bad as it was last year. obviously in massachusetts -- david: don't tell that to the folks in boston. >> hey, look, spring is around the corner. like i said, low oil, increasing wages increases confidence. of the confidence is the
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cheapest form of stimulus we could have. perfect trifecta into the spring market. my concern is with the four-month extension given to greece. i things start to fall apart when greece comes back on the table in four months. that will all be a disaster. that's when maybe we want to get protected and pull back from the market. but until then, things are good. liz: mark, things are good there, yeah, absolutely, with stocks, and many of our viewers are invested in stocks, but we recently have seen bond funds and watching people pile into the tune of something like 32 billion. is that a herd mentality, that people should look at? we'll talk about this a little bit later too. i'm looking at this, thinking are we missing something? why would i want a 2% yield when you can get 4% on some other names that in fact i believe, matt is going to name, right, matt? you like bristol-myers squibb and abbott lab? abbott has a great dividend.
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back to mark first. >> yes. think about what is going on worldwide. you know, i continue to think, we talked about this over and over and over again. the fed will not raise rates in march. they will not do it in june. probably not going to do it in 2015. europe, asia, what are they doing? they're absolutely crushing their currency. what does that do? worldwide defacto that raises interest rates in the united states relative to everywhere in the world. our interest rates in the united states are sky-high for how stable our government is. that is why you're seeing all sorts of wealth move into the united states. see 10-year note, even with the fed not doing qe, probably threaten it is all-time low yield, sometime in he 2016. that is going to turn into the trade. there is no alternative but equities. that will help my friends picks bristol-myers squibb, utilities. you know, and i think with oil bottoming. you could see a lot of oil stocks start to recover in the back half of 2016 as well. one thing i want to warn people
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about, international stocks. make sure you're something with currency hedge. u.s. dollar stronger, continues to get stronger. wrap it into the investment profile when you go international. david: speaking of mix between bonds and stocks, jamie you help ad lot of people retire very successfully. helped them live well off their earnings which is great. now in an environment when bonds are yielding practically nothing, how do you balance a retirement portfolio? it looks so different than it did the way if you look four or five years ago? >> a lot of people don't recognize how much value in dividend-paying stocks. look at relative value trade like other guests talked about, everybody that looks at utilities, oil stocks, you can look at companies, utilities in europe, anything you get a decent dividend yield on carry people a long way in their retirement income derivation. there are plenty of other spaces in bonds as well. high yield continues to be
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attractive. terrible sector latter part of 2014 but really come back in the last couple months of 2015. one thing i do worry about a little bit, david, saw the word synthetic tranche in citigroup post. worries me a little bit. i don't know. that is not good. so i think people are still searching for yield. we need to be careful. david: you can get burned. there are a lot of hot properties out there, liz. liz: nothing synthetic about abbott labses or its dividend. >> that's right. liz: abbott labs and bristol-myers squibb. dividends on what they do and why do you love them? >> they're easy to like because of the steady dividend and steady growth plus they're right here in the united states. our core portfolio and clients are the retirees and we have to be careful what we do. with all the noise, easy to adopt positions in bristol-myers and abbott. it's a manufacturer of machines for medical equipment.
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bristol-myers are manufacturer of drugs. the two compliment each other really nicely. those are positions we can't to take hold to build a portfolio on. getting two bites of apple. getting dividend and yield and growth. albeit with the beta less than one. we take out risk in the portfolios and give our clients some exposure in great products. david: mark sebastian, talk about oil for a second here. we've had a wild ride. it ended up after come down a bit as we see there. it did end up, fraction after percent but, looks like it bottomed, has it not? every time below 50 we see pushback up. >> i see a lot of people really don't think we're to the other side of 45. they look at relative value of oil, and say, with rigs coming off-line, just a matter of time before we catch that slack where we stop really growing inventories. you know, you don't see bottoms,
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when inventories start reducing. you see bottoms as inventoryies reduce. liz: pile up. >> yeah, i like oil as really i think a lot of oil sector will be maybe the leader in the back half of 2015. once the world recognizes itself as bottomed out. liz: jamie you will be so mad at us but let's just ask. what is the level of nasdaq in one year? >> i have no clue. i have no idea. i don't think it matters. if you were to subtract apple out of the nasdaq it wouldn't be 5000. of the level of nasdaq is completely irrelevant. unimportant. just invest for years, not for minutes. david: still a nice round number. five look as lot better than four does, right? >> i have as much hair as i do 15 years ago at 5000. that is important to me. david: you're a lucky one. liz: good to see you, and full head of hair, the ma, along with mark sebastian. david: which want to hear from
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you, folks. is the nasdaq 5000 now difficult from the 2000 version. remember just 15 years ago we saw 5000 also. this is many somehow a different era for the 5000 nasdaq? send us a message on facebook. give us a tweet @fbnatb. liz: keith bliss at top, said it feels more fundamental and stronger this time. we'll see. we know stocks led us to nasdaq 5000, from apple to intel to keurig green mountain. the question, what will get us to nasdaq 6,000? we have a panel sharing their top picks. david: here is internet stock that did not share in the glory of the nasdaq. alibaba shares down again today. it now is off 29% from its record close as investors get wary about china's consumer growth. is that company, alibaba a canary in the coal mine for china? liz: even as the markets hit new highs, institutions, so-called, smart money, pouring coin into
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bond etfs. at the fastest pace since 2000 two? 2002? which herd should you follow, bonds or stocks? ♪ at mfs, we believe in the power of active management. every day, our teams collaborate around the world, to actively uncover, discuss and debate investment opportunities. which leads to better decisions for our clients. it's a uniquely collaborative approach you won't find anywhere else. put our global active management expertise to work for you. mfs. there is no expertise without collaboration.
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>> wow, you cats hit the jackpot. there is enough food here to feed a lion. try to get it. try to get it. try to get the burger. >> what goes up, must come down. liz: that was pets.com sock puppet. bring in the panel. our own adam shapiro. jason, if we apple. >> sure. you don't need 1000 good ideas to be successful. you need a few. >> sure. >> i will reiterate my belief facebook will see triple digits
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this year. facebook is hovering back and forth around$0 level. i do believe it's a pretty safe idea to sea that, we're in a long-term uptrend. it is incredibly powerful company. okay? it is growing mobile revenues. it is buying out, oculus, it is incorporating so many different facets of the technology world. it is behemoth and only growing. i say facebook is going to 100. whether nasdaq goes to six thousand, i'm not sure. -- six thousand. liz: annual high of solarcity, the company is 88 bucks. it is at 50 right now. >> i love solarcity. there is huge amount much interest in solarcity. traders know any stock with short interest has further catalyst to ex-higher. i think facebook and solarcity
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leads us to new highs. liz: gary, give us our names. >> i did not break out in a rash. i appreciate jason's thoughts. my philosophy is simple, as you know, i like companies that use every day, that i pay money too, making money. i like netflix. i use it every day. apple, and comcast. those are, i could not exist without those companies. whether you love them or hate them, i use them every day and i pay money to use them. that is what i think will take us up to the next level. liz: peter lynch way. adam shapiro, are we going in the wrong direction. nasdaq 4500 versus nasdaq 6,000? >> you're cautious, but like every college student in california, every good high comes down. buzzkill always occurs. what is old, you don't have to be genius to figure this out. most actively traded stocks were apple, cisco, cirrus of all things. ing big names that will propel
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us. microsoft. facebook, obviously and intel. liz: no one at berkeley ever got high. >> right. they just never came down. liz: hey. hold on a minute. even as the market hit new all-time highs, institutions piling not into stock funds but bond etfs at fastest pace since 2002. which herd should you follow, stocks or bonds? we have cows and seeps. we didn't use purposely a bull or bear. both are relatively passive. let me get to it, adam. what do you think is the better bet here? >> i would follow the herd to the bonds because i think equities are expensive. you see lots of people who don't really understand why wrong time to be getting into stock and selling. remember these bonds, institutions are going to etfs. they are playing it safely. liz: 32 billion is pretty gigantic number. i always worry, gary about the herd? >> i don't. mostly the herd is wrong.
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i think with the whole is expensive. everyone is talking about is this next bubble. the trend is still up with stocks until proven otherwise. that's what i would stick with. liz: jason what do you think? >> i think the herd is utterly wrong in this case. i can't see the tv i don't know if the bonds are the cows or the pigs or whatever you have. liz: bonds were regular cows. >> okay. liz: some of these, to be fair are little risky, high yield. hyg is in there. a couple of lower on the bond level. >> i mean if you look at, if you look at what the 30-year u.s. yield is doing today, it's, the bond prices are tanking. and the bond yields are up over 3%. >> these etfs are corporate bonds. they're going to corporates. they're getting much better yield. >> exactly. i'm well aware of that i was going to add i know it is relative value play because yields on u.s. bonds are much higher than the rest of the world.
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but when you start to see if and when yellen starts to actually raise rates in june, which i will say, the clear possibility, you will see a rush for the exits. liz: could have gotten 9% yield on greek bond, gary b. we have to go. coming up this is the next thing we'll tackle. will the killing of russian politician, this is horrifying, boris nemtsov, kill investing in russia. we'll debate that. david. david: go from russia to israel. israeli prime minister benjamin netanyahu heading to capitol hill as tension continues to build between israel and the obama administration over a possible deal with iran. will his speech further restrain relations. coming up we'll talk to one much investors featured on a new show and secrets after successful startup. tips coming up.
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liz: horrifying, tragic, sad, the murder of russian protest leader boris nemtsov friday, gunned down as he walked near red square is latest turmoil to head the region. will this murder shut down confidence in russia? we bring back our panel, today, while the ruble was done, two stock market there is were up oddly. what do you think, gary? >> well, i wouldn't touch it. look, you can't figure out the political scene over there, or you can and it is evil. you have got the economy being killed by low oil prices. you've got putin wanting to restart the cold war, that is a good recipe to invest in a country. avoid it. liz: rosneft, their big state-run oil company, adam, need ad loan. vtb, second largest bank need as loan because sanctions are killing it. maybe this is the low people are talking about. when you don't know whether a free voice gets shut down and murdered how the rest of the
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business world will really react? >> the business world will invest when it thinks it can make a buck but whether you get your money out is the question people will ask. they will be reluctant and nervous what treatment they get in russia part of the world. you have no legal guaranties because they can be trumped by a dictator. liz: what to you think. >> adam, i love those points. business world will generally invest something for five and sell it for six. all variables make this for me 100% no-go. liz: isn't that interesting. warren buffett, 100% no-go. not interested in russia. he said that before the letter came out, that is the annual shareholder letter, for the berkshire hathaway company. we gave awe sneak preview of the buffett letter earlier this month. now it is officially out, 43 pages. what was your favorite line, twice, the most interesting part of the buffett letter? what do you think, jason?
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>> well, you know, there was, a lot, obviously. to get the direct words of warren buffett is quite a blessing if you're a serious investor. but i think one of my favorite lines is really just simple. it is his line nobody ever was successful over the long haul betting against america for the past 200, whatever, 40 years. if you really look at that, and let it sink in, that is powerful investing philosophy there. yeah, 2008 happened. 2001 happened. but if you're in this for the long haul this is the best market with the best legal system, the best structure. it encourages creativity and encourages innovation. i get pumped up by the line. liz: you know what is interesting about the letter, adam, on first page, this has been 50 years, he points out mistakes he made. he ripped himself on burlington-northern. ripped the company, saying that railroad didn't serve the customers well. that is within the first two pages. do you have a favorite part of this letter? >> i do. holeds himself accountable,
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speak as language for those that are not professional investors can understand, periodically, markets become divorced from reality. two plus two equals four and someone tells you how old-fashioned math is, zip up your wallet, take a vacation and come back in a few years to buy stocks at cheap prices. liz: the letter is at berkshire hathaway.com. >> mine may be a little more inside baseball. this stuck out to me as a trader chance causing berkshire to experience financial problems is essentially zero. maybe is. >> son can identify with this. for a trader, anyone involved in the financial markets, say i have zero percent risk is what he is saying, man, that is railing against the trading gods. i don't know if that hubris, extreme confidence. i would be shaking in my boots if i said that i know the next day i would be completely wiped
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out. liz: great to see all of you. gary b. smith, jason rotman and adam shapiro. >> thank you. david: meanwhile israeli prime minister bejnamin netanyahu spoke today about the threat that israel would face from a nuclear deal with iran. he is set to address a joint session of congress regarding the same issue tomorrow. president obama who is opposed to his speaking before congress and vice president biden will not be there. liz: netanyahu's visit to congress is causing so much controversy for a number of reasons but 3-d systems ceo, who is israeli but does business here in the u.s., tell told me in the last hour it is basically down to a single matter. >> inherent in our constitution is freedom of speech. i think congress has the privilege to invite foreign leaders to share with us their journey. that's what netanyahu is doing. >> david, he said he would watch every minute of it, no surprise there. i think a lot of us are, peter. want to see the speech and see
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what happens. what are the details you have? >> david and liz, netanyahu is downplaying his difference between president obama today ahead of joint speech in front of congress around iran. the white house is down playing differences too. >> my speech is not intended to show any disrespect to president obama or esteemed office that he holds. i have great respect for both. i deeply appreciate all that president obama has done for israel. >> the relationship between the united states and israel is one that has been strong for generations, for variety of reasons. it has been strengthened under the leadership of this president. and, it is relationship that is enduring. >> netanyahu described the different approaches making sure iran doesn't get nukes as an uncomfortable disagreement in the family that will pass. as for his side of the argument. he said he has a moral obligation to warn against the dangers of an american brokered nuclear deal with iran to
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israel. but the speech had taken on a partisan tone because it came at the invitation of republican house speaker john boehner who extended it without consulting the white house and comes two weeks ahead of elections in israel where netanyahu is in a tight race to win a fourth term. many members of congress say on bipartisan basis support hitting iran with tougher economic sanctions to pressure it into agreeing to a strong deal over its nuclear program, the president says that would undermined negotiations. he is asking congress to give him a chance. david, liz? david: uncomfortable is the understatement about the relations between the two countries. peter barnes from d.c. thank you, peter. >> thank you, peter. the a new show being launched is called the "shark tank" of the food world. we're talking to one of the investors about the launch and changing world for fund-raising for entrepreneurs. david: decline for alibaba continues as taiwan orders it to
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leave the country. the stock is down 29% from its all-time high. is this continued drop a canary in the coal mine for all of china? we'll tackle that coming up. ♪ at ally bank no branches equals great rates. it's a fact. kind of like mute buttons equal danger. ...that sound good? not being on this phone call sounds good. it's not muted. was that you jason? it was geoffrey! it was jason. it could've been brenda. grind virtually any kind of food waste into an unending source of electrical power for a city? when emerson takes up the challenge, it's never been done before simply becomes consider it solved. emerson.
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demanded alibaba withdraw from their country within six months. even before this breaking news, alibaba has been down 29% on concerns about china's slowing retail market. so is alibaba the canary in the chinese coal mine? with us is robert bloom. he is an investment banker and economist who lived in china for quite some time. nine years. robert, good to see you. is alibaba's decline sort of reflection of the chinese economy right now? >> right. there are retail side. online retailing has its pluses as real estate is down and so on. people will migrate, chinese will want to save money. they will go online, so there is something about that. there are issues of about alibaba. jack ma, looms larger than the communist party, you know what they do to him? they will shoot him now. he can't have power. the guy from wanda, they're connected to all official's families. jack ma never did this. david: don't jack ma and chinese
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government want same thing, growth? >> yo yes. but one wants to be in control. will do everything to stay in control. will not tolerate or brook any parallel force. david: as far as i can tell from the outside there is has not been conflict between what jack march is wants. >> he is very smart. it is is not a content business. it is agency business. he never got into the content. david: are they trying to stop him? >> will have to deal with censorship apparatus and ideology. his problem if he becomes too powerful economically and has a following, he will be shot down. david: similar to what happens in russia? putin notes too much competition. >> they shoot people on the street in russia. don't do that in china. put you away in jail. david: talk about the overall growth in china and whether or not alibaba, what is happening to alibaba is kind of a canary in the coal mine. talk about coal. coal use is way down for the
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first time in 13 years, the use of coal has gone down by about 3% s that another signal? >> of course. and even win joe because, the -- when joe because. we look at power production statistics, coal use. tells you something gdp figures are not telling you. they are probably inflated by at least a couple percent. david: there is another problem, when they would think to have more investment in the country, they raise tax on foreign investment. if you want less of something, raise the tax on that thing you will get less of it. do they want less foreign investment? >> yes, they want less intrusive foreign investment. david: really? >> they want foreign investment they can control. david: let me push back a bit. don't think want growth right now more than they're concerned about foreign investment? >> they want chinese growth by chinese, less growth by foreigners. david: by the way, what happens to you, when you say these
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things over there? you've been living there for nine years. if it is as, sort of, secretive and concerned about saying the wrong thing over there as you suggest, why aren't they coming down on you? >> because i say in chinese. number two, you say things, not published and not broadcast, not broadcast all over chinese media i there are chinese in the system who think same way. you don't hear about them. very large country. complicated. anything thinkable has been thought by somebody in china. david: there is new book out, the 100 year marathon. china is looking to supplant the united states as the number one global economic power in the world. 2049, would be 100 year anniversary of the chinese revolution. do you think this book makes sense? >> no, because china is not a monolith. it is very large country and all kinds of factions. like hagel, there is some spirit
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over the last 100 years, striving china this way, okay. let's say you say that. i don't know how you prove it but how is that going to help you conduct a policy? it is like writing china off. that is what chinese nationalists say. there is something particularly chinese about the way they do things. this has been going on for 100 years or a thousand years and you can't fix it. david: we have to wrap but chinese are looking to 8% growth this year. do you come anywhere near it? >> not 8%. 7%. that is possible. asian economy, old asian tigers in the late '90s. they will revert to normal economic growth like a normal country. then the competition is over, because they match u.s. economic growth and the u.s. is fit to go. we got, the u.s. can bear higher interest rates. it will kill the renminbi. they are in a real struggle. they just lower lowered interest rates. 10% of the families control
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assets equal to currency reserves. if they move 1/3 of it the pressure on renminbi. david: last question always kills me. i think it will be short. thank you my friend for coming in. liz? liz: oh, i like that. every shark or will the shark eat you? the food network premiering a new show called the "shark tank" for food entrepreneurs. up next, we've got one of the show's investors to tell us what it will take to win. plus, fighting for big money. ultimate fighting championship, ufc, the fastest growing sport in the world. daily fantasy sports site draftkings is hoping to capitalize on the new popularity with a new deal. we'll talk to one of draft king's cofounders straight ahead. talk about "strange inheritance." imagine getting a letter informing you inherit ad decrepit landmark on the road to las vegas, a gigantic thermometer. >> it is big. >> it is the world's tallest
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liz: food fortunes is a great title for an upcoming show where culinary entrepreneurs pitch idea to panel of investors with the hopes of securing funding to grow. kind of similar to "shark tank." david: my wife will love this show. the show is another example how entrepreneurs becoming more creative in getting access to capital. we have the a taste savant founder and ceo. she is one of the founders on food fortune. i'm serious, my wife loaves these food shows, absolutely loves them. let's talk about the american dream which you personify. really american dream i think is owning our own business. >> yep. david: of all of those ingredients you need to be successful entrepreneur, what is the most important to start your own business? >> the most important is right person behind the product. it is all about team. the american dream is about individuals. i'm a child of immigrants. i know what it is like to grow yourself within a larger nation,
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right? so it is about having strong team, strong point of view, what your product is and be the right person to grow that business. liz: how is the show structured? what happens? is it fair to say like the "shark tank" for food ideas? >> similar in a lot of ways and different in a lot of ways. a ton of fun. your wife will love it. we have entrepreneurs from across the food space, coming to pitch their ideas. it can be anything from a new condiment. a new ice cream idea. a gadget you use in your kitchen. they present and pitch their ideas to panel of investors. there is a studio audience there as well, who give the point of view whether they buy the product or not. after hearing pitch from entrepreneurs. we would decide if we like to learn more and go to the negotiation table. at that table, which happens the next day where we actually hash out a deal. david: by the way, one thing you know very well, is what, other entrepreneurs capitalists are looking for in terms of funding projects like this. >> yep. david: is that the perspective you bring from this, whether or
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not it could gain the capital it needs to get started in? >> absolutely. i started my own business and raise ad round when i initially launched my own business. interesting to see so many different ways for entrepreneurs to access capital. on food fortunes is one of those ways. they can access capital through crowd funding. that is huge space. five billion dollars of crowd funding revenues. liz: you will have a lot of people really smart but really nervous in front of your panel. what advice would you give anybody pitching to your show, crowd funding, kick-starting, venture capital, angel investing whacker is the advice? >> preparation is key. know your product. know
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liz: when does the show launch? >> premiers next monday, march 9th, 10:00 p.m. eastern. david: parents from india. you grew up in rochester, right? >> yes, i did. david: india and rochester could be proud. >> thank you so much. appreciate it. liz: call it ultimate fantasy
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team. the world's fastest growing sport making its debut on top fantasy sports website, draftkings. we'll talk to them about what we'll talk to them about what the deal means for its bottom line coming up next. every day, our teams collaborate around the world, to actively uncover, discuss and debate investment opportunities. which leads to better decisions for our clients. it's a uniquely collaborative approach you won't find anywhere else. put our global active management expertise to work for you. mfs. there is no expertise without collaboration.
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is it the insightful strategies and analytical capabilities that make edward jones one of the biggest financial services firms in the country? or is it 13,000 financial advisors who take the time to say thank you? 'night jim. gonna be a while? i am liz got a little writing to do. ♪ it's why edward jones is the big company that doesn't act that way. but you can't control everything. it seems like every day there's another data breach, like this one in the news right now. according to a recent study, one in three consumers who received data-breach notifications became victims of identity theft. so be ready in case
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your personal information gets compromised with identity-theft protection from lifelock, a leader in identity-theft protection. lifelock actively patrols your sensitive personal information, helping to guard your social security number, your bank accounts, and credit, even the equity in your home. look, your credit-card company may alert you to suspicious activity on your credit cards but only on the accounts you have with them. lifelock monitors transactions at over 5,000 financial institutions, alerting you to new account applications in your name and more, giving you the most comprehensive identity-theft protection available. the patented lifelock identity alert system looks for threats to your identity and notifies you by phone, text, or e-mail. lifelock is proactive, with three powerful layers of protection, detecting threats to your finances, alerting you to potential danger, and helping restore your identity if anything is found. it's even backed by a $1 million service guarantee.
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look, over 70 million people had their personal information stolen in recent security breaches, so be ready in case your data is part of a breach with identity-theft protection from lifelock. call now to try lifelock risk-free for 60 days. act now and get this document shredder free. that's a $29 value. or go to lifelock.com/ready. that's lifelock.com/ready. try lifelock risk-free for 60 days and get this document shredder free, a $29 value when you use promo code "ready." call now. david: this is blockbuster deal in the sports world. ultimate fighting championship, or ufc, signed an exclusive partnership with fantasy sports leader draftkings.
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liz: why is this such a deal? it's a huge deal. gives them access to the fastest growing sport in the world, not the nation, the world. it is expected to help boost draftkings bottom line exponentially. let's bring in draftkings coo paul neil. what are the terms of this? i understand signage and things like that. what else? >> yeah. so it is a great deal. as you said the ufc is an awesome league. they're the fastest growing league. we'll do a lot of signage as well as exclusive experiences. player on the site will compete during maa contests and win a design -- dane into white experience. fly them out. give hotel accomodations and watch the fight where dana white's seats are. david: there is a lot of competition in your field. a lot of people want to get into the small players to big guys.
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hockey, baseball, nfl teams? are you looking to get all of nfl now? you have only three three or for teams, right? >> we're constantly looking at different teams, working with all the teams. we're exploring the space. we're really focused on baseball and ufc and fighters, really focused on the sport. as well as a lot on golf as well. gerri: let's get to some numbers here. you will break this on fox business. you're ready to release projected 2015 possible income and money. give us the numbers because there is a b involved here as in billion. >> yeah, i mean we're super excited. we'll have a billion, more than a billion dollars in entry fees and 100 million revenue this year. this is only after three years of business. we launched the site a little less than three years ago. so, yeah, it is enormous. we have done a lot on the product side as well. we're excited where we're at. david: paul, that billion dollar figure could be multiplied by factor of 10 easily, if internet
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gambling, if it wasn't for that 2006 internet gambling law. it makes exception for fantasy sports, i understand that but are you looking to the time at which that law will be rescinded >> right now there is still so much opportunity in fantasy. we have only scratched the surface. we've only penetrated 1% of the market in terms of users. we're still focused on the fantasy market. david: aren't you focused, somewhat, paul, forgive me, aren't you focused somewhat trying to get that internet gambling law overturned? >> sure. i mean we're constantly looking at where the business is going to go over next few years. yep. liz: now, ultimate fighting. get people excited about this. get them excited about the fact that in a way you can get in on this website, than draftkings, to start do all other things as well? how is the hockey going? i love hockey.
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>> hockey is amazing. having a partnership with the nhl is really critical. every single day you can go on nhl.com they will give you picks you can select. we have great nhl experiences. hockey ace huge sport for us. basketball is huge. golf is huge. we're excited all the sports coming together. david: nothing is bigger right now than ultimate fighting. it has growth potential through the sky here. the dana white experience is one of those things you reward, some people call it winning, as in gambling win, saw i reward. tell us a little bit about the dana white experience. >> sure. so the dana white experience we'll have players, what they have to do is compete on our site. they pick five mma players. they compete in future mma contests. the winner, we'll fly them out to wherever, vegas. they will get to be there at weigh-ins. take pictures with dana white. be in the okay toe gone.
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-- okay at that gone. watch it from the seats. once in a lifetime experience for mma fans. liz: you get experience from the sweat. david: this thing is huge. all the pay-per-views sell out. congrats. draftkings. thank you very much. >> thanks for having me. liz: time for number one thing to watch tomorrow, for that we bring back jason rotman. lido aisles president. number one thing to watch. >> this could sneak up on some people. janet yellen is speaking tomorrow. she is giving a speech on some type of regulations in the banking industry. typically when fed presidents talk about that you will not necessarily hear her talk about interest rates or what will happen in june obviously but occasionally there are surprises. if i'm watching one thing tomorrow i'm watching what the fed president is saying. david: will this just aftereffect financial companies
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or affect the whole market? >> whole market clearly. if she mentions anything that has not been mentioned or has not been clarified about the interest rate, literally that will affect things. david: jason, thank you very much. liz: gerri is next. >> hello, everybody, i'm gerri willis. this is "the willis report" the show where consumers are our business. explosive report on "60 minutes" about the safety of wood flooring sold by lumber liquidators. >> you want the company to remove all the flooring? >> every single board, at their cost and replace it with clean flooring. gerri: what consumers need to know after the company is accused putting cheap chinese flooring with dangerous chemicals in american homes. new warning on interest rates from legendary investor bill gross. he is my special guest. we'll talk about his take on the economy and what investors need to know when the fed will start raising rates. the backlash against common

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